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The Financial Post reported that a hostile takeover bid from Inmet Mining Corp. for Petaquilla Minerals Ltd. has expired, lacking support from Petaquilla shareholders.
The Financial Post reported that a hostile takeover bid from Inmet Mining Corp. for Petaquilla Minerals Ltd. has expired, lacking support from Petaquilla shareholders.
As quoted in the market report:
The two companies own projects side-by-side in Panama, and the failure of the bid means that the status quo in the region will continue for the time being. Inmet is developing the giant Cobre Panama copper project, while Petaquilla operates a small gold mine right next door.
